The Kansai Electric Power Company, Incorporated | Partial Amendment to the Articles of Incorporation of the Company: Realization of zero-carbon (carbon neutrality) without depending on nuclear power at The Kansai Electric Power Company, Incorporated

Status
AGM passed
AGM date
Proposal number
14
Resolution details
Company ticker
9503
Lead filer
Undisclosed filer
Resolution ask
Adopt or amend a policy
ESG theme
  • Environment
ESG sub-theme
  • Climate change
Filer type
Shareholder
Company sector
Utilities
Company HQ country
Japan
Resolved clause
The chapter described below shall be newly established in the Articles of Incorporation of the Company. Chapter 11 Zero-Carbon Without Depending on Nuclear Power Article 50 The Company shall realize zero-carbon without depending on nuclear power.
Supporting statement
The nuclear power business has lost its cost advantage due to rising safety and back-end costs, and faces an extremely high risk of becoming a stranded asset in the future. The current high profitability is temporary and overly dependent on nuclear power operations, reflecting a highly fragile business structure. Any regulatory changes or accidents could result in annual losses amounting to hundreds of billions of yen. As renewable energy costs continue to decline sharply worldwide and major customers increasingly demand higher-quality decarbonization (100% renewable energy), continued concentration of capital in nuclear power represents a significant loss of growth opportunities. This proposal seeks to eliminate opaque risks associated with nuclear power and to strategically reallocate management resources to renewable energy and energy storage businesses. By doing so, it aims to improve capital efficiency and maximize medium- to long-term corporate value and share price. Withdrawing from uncertain risks is the most rational management decision to avoid future large-scale impairments and is essential for building a sustainable foundation for growth.

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